Milwaukie Ave Portland, OR 97202

This exceptional 5,100 square foot commercial development site is located in Portland, Oregon's desirable Brooklyn neighborhood, within Multnomah County (zip code 97202). Currently a clean, environmentally sound parking lot, this property boasts a coveted CM2 zoning designation, allowing for a variety of mixed-use developments. The site's central location offers unparalleled access to popular streets and neighborhoods, making it an ideal investment opportunity. Its proximity to public transportation, including a light rail stop just five blocks away, and a short seven-minute drive to downtown Portland, further enhances its appeal. The CM2 zoning permits buildings up to four stories, with potential for a fifth story through bonus provisions. Building height can reach 45 feet, increasing to 55 feet with these provisions. The Floor Area Ratio (FAR) ranges from 2.5:1 to 4:1, also subject to bonus provisions. Parking requirements are often waived for non-residential uses near transit or projects with fewer than 30 residential units. The asking price is $395,000, translating to $88.23 per square foot. This presents a unique chance to develop a thriving commercial project in a vibrant and rapidly growing area of Southeast Portland.